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Bayer drug hits a speed bump in the UK

  • Britain's National Institute for Health and Care Excellence gives a thumbs down to Bayer's (BAYRY) Xofigo citing a lack of evidence of effectiveness versus other therapies.
  • The drug is a radioactive agent that migrates to parts of the body exhibiting abnormal bone growth.
  • The company acquired the Norwegian firm Algeta last month for $2.9B in order to obtain the rights to the drug.
  • The ruling by NICE is draft guidance now subject to consultation.
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